It's been awhile! Updates? LLPA pricing adjustment penalizes good credit and rewards bad credit?

We had a great show tonight! Good to be back! I think the biggest thing we went over was the installation and then recension of the new loan level pricing adjustment that was perceived to penalize those with good credit while rewarding those with lower credit.

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Mortgage Rates came in at 6.67 percent on a 30 year fixed today.

Flash flood last night in St. Louis was no joke

Where I been?

Where to start?

1. Kinda got burned out. I want this perfect stream and night after night….just wasn’t going well.
2. Shade tree mechanic. I needed to replace the brakes and rotors on one of my cars…it took 3 days
a. The front brakes I ordered were the right order but they sent the wrong pads(too short)
b. The rear brakes had a rusted bolt that was rounded.
c. When I went to fix them again, it took all day, and I could hardly move
3. So I started walking. The 10,000 steps thing. But when I started, I was beat. Could hardly stay awake late enough to stream.

4. Ever get excited on something and just super focused? I had something come up that I just wanted to learn all about it…like a moth to flame thing. Finally getting to the point where I feel comfortable about it.

Let’s talk some Deerwood real estate news

a. I had a guy contact me, said he needed to move….we knew of each other…but I never felt all that comfortable around him, and he listed his house, without me. That means, I lost two commissions. Am I bitter? No…the guy is a jerk, he already listed it too high and so now it will sit. My opinion: It’s better to work with people you get along with … my opinion
b. Any of you remember like December of 2021, when I had that couple who I helped them find a house get divorced and I was just torn up about it? Then they went and listed the house with someone else and got bank…and I couldn’t figure that out. Well, the wife reached out to me in like July and I helped her find a house. Never burn bridges…that’s all I can say.
c. On the other hand, I did have a weird thing happen.
1. Do you believe that if you do a good job you will be rewarded?
2. Here to tell you that doesn’t always happen. Recently got a text from a friend and he was like, hey my brother is selling his house, if you know anyone here is the listing. I helped him sell his family home…so I was like wtf? Did I do a bad job or something? Anyway, just don’t expect things is what I would say.
D. So today, the adventure, did I get an occ permit or not? Why does it take 72 hours for a community to get back to you?
E. The pond…it leaked, took all afternoon to fix.

On the Twitter

The Kobiessi Letter
https://twitter.com/kobeissiletter/status/1658161167804649472?s=43&t=QlG4CVfHOkSxxiBKIDu40g

Christopher J Scalia
https://twitter.com/cjscalia/status/1656777137666285569?s=43&t=QlG4CVfHOkSxxiBKIDu40g

Raw News Alerts
https://twitter.com/rawsalerts/status/1656855852404318212?s=43&t=QlG4CVfHOkSxxiBKIDu40g

Unusual Whales
https://twitter.com/unusual_whales/status/1653046868430159874?s=43&t=QlG4CVfHOkSxxiBKIDu40g

Real Estate News and Commentary

Newsweek
https://www.newsweek.com/biden-raises-costs-homebuyers-good-credit-help-risky-borrowers-1795700

Patrick Bet-David
https://twitter.com/patrickbetdavid/status/1654236838851145731?s=43&t=QlG4CVfHOkSxxiBKIDu40g

Not true?
https://www.housingwire.com/articles/datadigest-correcting-the-record-on-llpa-updates

Maybe it was true?
https://www.housingwire.com/articles/fhfa-rescinds-controversial-dti-llpa

Drop me a line @ media@deerwoodrealtystl.com
We’re online at https://www.deerwoodrealtystl.com/